2,451,234 Shares in Intercontinental Exchange Inc. $ICE Bought by W1M Asset Management Ltd

W1M Asset Management Ltd purchased a new stake in shares of Intercontinental Exchange Inc. (NYSE:ICE) during the second quarter, HoldingsChannel reports. The fund purchased 2,451,234 shares of the financial services provider’s stock, valued at approximately $301,710,000. Intercontinental Exchange comprises 2.8% of W1M Asset Management Ltd’s holdings, making the stock its 20th largest holding.

A number of other hedge funds have also recently made changes to their positions in ICE. Vanguard Group Inc. raised its position in shares of Intercontinental Exchange by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 54,153,170 shares of the financial services provider’s stock valued at $8,770,647,000 after buying an additional 413,639 shares during the last quarter. J. Stern & Co. LLP increased its holdings in Intercontinental Exchange by 17,398.1% in the 4th quarter. J. Stern & Co. LLP now owns 54,107,273 shares of the financial services provider’s stock valued at $8,763,214,000 after acquiring an additional 53,798,055 shares during the last quarter. BlackRock Inc. bought a new stake in Intercontinental Exchange in the 2nd quarter valued at $6,245,085,000. State Street Corp grew its position in shares of Intercontinental Exchange by 3.4% during the fourth quarter. State Street Corp now owns 25,653,952 shares of the financial services provider’s stock valued at $4,154,914,000 after purchasing an additional 837,208 shares in the last quarter. Finally, Morgan Stanley increased its holdings in shares of Intercontinental Exchange by 1.0% in the fourth quarter. Morgan Stanley now owns 15,875,593 shares of the financial services provider’s stock worth $2,571,212,000 after purchasing an additional 158,450 shares during the last quarter. Institutional investors own 89.30% of the company’s stock.

Intercontinental Exchange Trading Up 1.7%

Shares of ICE opened at $161.29 on Friday. Intercontinental Exchange Inc. has a twelve month low of $121.79 and a twelve month high of $181.65. The company has a market cap of $90.55 billion, a P/E ratio of 22.78, a P/E/G ratio of 1.58 and a beta of 0.92. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.63. The company’s fifty day simple moving average is $142.34 and its 200-day simple moving average is $151.69.

Intercontinental Exchange (NYSE:ICE) last released its quarterly earnings results on Thursday, July 30th. The financial services provider reported $1.90 EPS for the quarter, topping analysts’ consensus estimates of $1.84 by $0.06. Intercontinental Exchange had a net margin of 30.08% and a return on equity of 14.95%. The firm had revenue of $3.61 billion during the quarter, compared to analysts’ expectations of $2.63 billion. During the same period in the previous year, the company earned $1.81 EPS. The firm’s revenue for the quarter was up 4.8% compared to the same quarter last year. As a group, analysts expect that Intercontinental Exchange Inc. will post 8.1 EPS for the current year.

Insider Buying and Selling

In other Intercontinental Exchange news, SVP Douglas Foley sold 7,300 shares of the stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $148.88, for a total value of $1,086,824.00. Following the completion of the sale, the senior vice president directly owned 19,063 shares in the company, valued at approximately $2,838,099.44. This trade represents a 27.69% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Warren Gardiner sold 2,491 shares of Intercontinental Exchange stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $156.30, for a total transaction of $389,343.30. Following the sale, the chief financial officer owned 22,698 shares of the company’s stock, valued at $3,547,697.40. The trade was a 9.89% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 20,200 shares of company stock valued at $3,035,385 over the last quarter. 0.84% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on ICE shares. Morgan Stanley decreased their price objective on Intercontinental Exchange from $187.00 to $163.00 and set an “equal weight” rating on the stock in a report on Friday, July 10th. UBS Group restated a “buy” rating and issued a $195.00 target price (up from $190.00) on shares of Intercontinental Exchange in a report on Friday, July 31st. Piper Sandler lowered their price target on shares of Intercontinental Exchange from $211.00 to $190.00 and set an “overweight” rating for the company in a report on Wednesday, July 15th. Weiss Ratings lowered Intercontinental Exchange from a “hold (c+)” rating to a “hold (c)” rating in a research report on Tuesday, August 11th. Finally, The Goldman Sachs Group reduced their price objective on Intercontinental Exchange from $208.00 to $180.00 and set a “buy” rating on the stock in a research note on Tuesday, June 30th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $183.33.

Intercontinental Exchange Profile

Intercontinental Exchange (NYSE: ICE) is a global operator of exchanges, clearing houses and data services that provides infrastructure for the trading, clearing, settlement and information needs of financial and commodity markets. Founded in 2000 by Jeffrey C. Sprecher as an electronic energy trading platform, the company has grown through organic expansion and acquisitions to operate a broad portfolio of assets spanning listed equities, futures and options, fixed income, and over-the-counter derivatives.